TOKYO, April 17 (Xinhua) -- Japan's consumer confidence in March dropped 1.0 point from the previous month, down to its lowest level since August 2011, local media reported Thursday.
According to the Cabinet Office, the seasonally adjusted index of sentiment based on households made up of two or more people dropped to 37.5, down for the fourth straight month, mainly caused by the consumption tax hike from April. Readings below 50 indicate pessimists outnumber optimists.
The government also downgraded its basic assessment of the index, saying consumer sentiment shows "weak development," while stating last month that it is "on a weak note."
In the reporting period, all of the index's four components fell. Consumers' near-term readiness to buy new durable goods slid 2.0 points to 30.8, and livelihoods dropped 1.0 point to 35.0. Their assessment of employment conditions was down 0.9 point to 45. 9 and that of income growth declined 0.1 point to 38.2.
The survey was conducted on March 15, covering 8,400 households. About 5,682 households responded.
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